Independence Bank of Kentucky grew its position in ServiceNow, Inc. (NYSE:NOW – Free Report) by 262.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,280 shares of the information technology services provider’s stock after acquiring an additional 11,065 shares during the quarter. Independence Bank of Kentucky’s holdings in ServiceNow were worth $1,598,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares during the last quarter. State Street Corp boosted its stake in shares of ServiceNow by 406.6% during the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after buying an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of ServiceNow by 371.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after buying an additional 25,517,218 shares during the period. Geode Capital Management LLC grew its holdings in shares of ServiceNow by 404.8% during the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after buying an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after buying an additional 17,514,679 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.
Key ServiceNow News
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
- Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
- Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
- Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
- Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on NOW
Insider Activity at ServiceNow
In other news, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company’s stock.
ServiceNow Price Performance
Shares of ServiceNow stock traded down $1.03 during trading on Friday, reaching $107.81. The company’s stock had a trading volume of 11,058,890 shares, compared to its average volume of 20,996,616. The business has a 50 day moving average price of $102.49 and a 200-day moving average price of $111.27. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $210.20. The company has a market capitalization of $111.16 billion, a P/E ratio of 64.25, a price-to-earnings-growth ratio of 1.81 and a beta of 0.96. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.
ServiceNow (NYSE:NOW – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the prior year, the business posted $0.81 earnings per share. ServiceNow’s revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 2.34 EPS for the current year.
ServiceNow Profile
ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.
The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.
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